When a medical claim arises, is a reimbursement product better or the one which pays a lump sum amount to the insured? Also, what are the advantages of buying health plans from a life insurer?Both a reimbursement product and the ones paying a lump sum (benefit) amount have their own advantages and disadvantages. While a reimbursement policy is intended to indemnify the actual hospitalisation expenses incurred subject to sum assured, a benefit policy is a named ailment or surgery policy which will only pay a flat amount, irrespective of actual expenses incurred.The key difference is that policies paying a lump sum have no correlation with the end usage of payment. Generally, insurance covers a restrictive list of ailments or surgeries, while a reimbursement policy is more exhaustive in coverage but indemnifies only the actual expenses. These two products complement each other.In the Indian market, 95 per cent of the policies sold are indemnity-based. Life insurers generally offer  benef

General Insurance: Rakesh Jain

Business Standard

Chief Executive Officer of Reliance General Insurance, answers your queries

Readers' Corner: Rakesh Jain

We had applied for a health insurance floater cover for my father-in-law and mother-in-law from a standalone insurer.

A good rule of thumb is to purchase term cover amounting to 7-10 annual income, plus outstanding liabilities

Life insurance firms adjust term premiums by 5-10% ahead of FY25 end

The National Commission condemned the builder for creating third-party rights during litigation, thereby depriving the buyer of a permanent roof over his head

gavel law cases

The Himachal Pradesh government raised milk procurement prices from Rs 38 to Rs 45 and that of buffalo milk from Rs 38 to Rs 55 per litre this April

sukhu

Sukhu was brimming with ideas when he took office. His slogan was "vyavastha parivartan" (institutional change)

Sukhvinder Singh Sukhu, HP CM

India's total forest and tree cover stood at 8,27,357 sq km in 2021-23, representing 25.17 per cent of the country's geographical area

Assam, Assam forest

After two weeks of buying, FPIs turned net sellers in Indian equities this week, with a net withdrawal of Rs 976 crore amid a strengthening US dollar and steady rise in US 10-year bond yields, impacting investor sentiment.
Foreign Portfolio Investors (FPIs) began the week on a positive note, investing Rs 3,126 crore in equities during the first two trading sessions (December 16-20).
However, the trend reversed in the latter half of the week, with FPIs offloading equities worth over Rs 4,102 crore in the subsequent three sessions. This resulted in an overall net outflow of Rs 976 crore during the week, data from National Securities Depository Limited showed.
Despite this short-term reversal, the broader December trend remains positive. FPIs have infused Rs 21,789 crore into Indian equities so far this month, reflecting continued confidence in India's economic growth potential and its resilient markets.
FPIs adopted a cautious approach due to the US Fed meeting and uncertainty about 

Foreign portfolio investor exodus: Financial sector bears the brunt, FPI

Fundraising via IPOs in India hit another landmark as economic growth, favourable market conditions and improvements in the regulatory framework helped companies raise a record Rs 1.6 lakh crore in 2024, while the pipeline for the next year holds out bigger promise.
This exceptional year not only reflected the confidence of issuers but also highlighted investors' eagerness to seize listing-day gains or back companies with strong long-term growth potential.
The year was marked by Hyundai Motor India's historic IPO, the largest in the country's history, which raised Rs 27,870 crore.
Companies of varying market capitalisations -- large, mid, and small -- tapped into the IPO route in 2024, with the average issue size rising significantly from Rs 867 crore in 2023 to over Rs 1,700 crore in 2024.
The exceptional vibrancy of the IPO market was evident, with December alone seeing at least 15 launches.
"Rising retail participation, strong domestic inflows and active participation by FPIs (

ipo market listing share market

Record fundraising surpasses the previous high of Rs 9,370 cr in 2023

A 50-year-old doctor from Saudi Arabia, who has been living in Germany since 2006, is the prime suspect in the Christmas market attack in Magdeburg, which killed five people

Germany police

The accumulated losses of state public sector enterprises (PSEs) rose from Rs 3,953.70 crore in 2020-21 to Rs 4,778.70 crore in 2022-23, while the profit earned by 13 SPSEs stood at Rs 20.21 crore as on September 30, 2023, according to a report by the Comptroller and Auditor General (CAG) on finances tabled in the Assembly on Saturday.
The net worth of nine out of these 14 PSEs has been completely eroded by losses and their worth was (-) Rs 1,932 crore against an equity investment of Rs 2,085.59 crore, while three PSEs have outstanding government loans amounting Rs 3,132 crore, the report said.
Himachal Pradesh State Electricity Board topped the list of loss making enterprises with accumulated losses of Rs 1,809.61 crore, followed by Himachal Pradesh Road Corporation at Rs 1707.12 crore, HP Power Corporation at Rs 552 crore, Himachal Pradesh Power Transmission Corporation at Rs 395.91 crore, HP Financial Corporation at Rs 180.97 crore, State Forest Corporation at Rs 113.04 crore, HPM

The Centre may overshoot the Rs 56,260 crore target for dividend receipts from central public-sector enterprises (CPSEs) set for FY25 and is likely to end up getting around Rs 65,000 crore this financial year, according to a senior government officia

Investment strategy based on specific characteristics has become popular among fund houses and investors

Factor-based investing gains ground in 2024 among fund houses, investors

Quality investing focuses on stocks with strong fundamentals, like high return on equity and low leverage

SIP, mutual fund, investment

This period of growth came after the 2017 reclassification of active equity schemes - a reform that made it easier for investors to identify the top performers across scheme categories

Mutual Funda

Small and midcap segments show signs of bubble-like valuation and other segments are more reasonable, they said while discussing 'Is the Market in a Bubble Zone?'

Small, midcap investing: CIOs urge caution and realistic expectations

The leaders of some of the country's largest fund houses said that the momentum in MF inflows could take assets under management (AUM) past Rs 100 trillion in two to three years

Bull or bear market, MF blitz to continue; CEOs link growth to India's rise

The I-T department probes Rs 7,500 crore spent on lavish weddings, targeting Jaipur planners and fake billing networks linked to foreign destination events and cash transactions

weddings, marriage

Congress calls FIR against Rahul Gandhi over Parliament scuffle a 'badge of honour', alleging BJP's vendetta and diversionary tactics to counter his protest against Amit Shah's Ambedkar remarks

Rakesh Jain

Rakesh Jain

Rakesh Jain

General Insurance: Rakesh Jain

Readers' Corner: Rakesh Jain

Readers' Corner: Rakesh Jain

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Insurance portfolio review: Up term cover with rising income, liabilities

Consumer protection: Buyer entitled to market value if flat is resold

We tried to close door that caused corruption: Himachal Pradesh CM Sukhu

Bold but flawed: CM Sukhu's governance under scrutiny in Himachal

India's green book: Forest growth decelerates as tree cover rises

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FPIs pull out Rs 976 crore from Indian equities amid rising dollar

IPO boom: Record Rs 1.6 trn raised in 2024; bigger gains expected in 2025

Healthcare, pharma sectors raise Rs 14,811 crore via IPOs in 2024

Who is the Saudi-born suspect behind Germany Christmas market attack?

Losses of Himachal's 30 PSEs rose from Rs 3,953 cr to Rs 4,778 cr: CAG